Count Ltd Insiders Stock Up in a High-Value Cluster Buy

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Established in 2006 and headquartered in Sydney, Australia, Count Ltd (CUP:ASX) works in accounting, business advisory, and financial planning services throughout Australia. Through its subsidiaries, the company operates across multiple segments including Accounting, Financial Planning, Financial Services, and Others.

Traded under the symbol 'CUP', Count Ltd reflects its market performance with its latest stock price settling at AUD 0.58 and a current Market Cap standing at 97.06 million AUD

Cluster Buying from Veteran Insiders

From March 07 to 08, a total of three insiders at Count Ltd raised their stakes in the company:

  • Managing Director/CEO Hugh Humphrey bought 10,000 shares @ a price of AUD 0.585.

  • Non-Executive Director Tim Martin bought 15,000 shares @ a price of AUD 0.585. He later followed with 15,000 more shares bought @ a price of AUD 0.575.

  • Chairman of the Board, Raymond John Kellerman bought 99,185 shares on Mar 07 and followed with purchasing 100,815 the next day. Both transactions were at AUD 0.58 per share.

All in all, these five transactions were valued at AUD 139,250 ($91,960).

In 2023, CEO Humphrey frequently traded CUP stock, marking his first trade this year. He is widely respected in the financial services industry for his leadership and expertise, and has held prominent positions at Hillross Financial Services and Commonwealth Bank. 

Following Humphrey, Chairman Ray possesses more than three decades of expertise in the financial services sector. Director Martin has also served as a Chairman and Non-executive director of multiple private equity portfolio companies, beginning his career with global strategy consulting firm Bain & Company.

Fiscal H1 2024 Results spew Positivity

On February 20, 2024, Count released its half-year financial results, showing a +6% revenue increase driven by organic and acquisitive growth. CEO Hugh Humphrey said, "Count continues its strategic execution to build capability and drive growth across our three segments of Accounting, Wealth and Services. These results are a strong endorsement of this focus, with the most exciting phase still to come as we complete the acquisition of Diverger on 1 March.”

This was followed with a March 1 announcement on the completion of Diverger Limited’s acquisition. As per the agreement, Count successfully purchased all shares of Diverger, providing consideration to all Diverger shareholders. From March 4, 2024, Count Consideration shares will be available for trading on the ASX under standard settlement terms.

In summary, recent insider buying at Count Ltd could indicate confidence in the company's future prospects. Additionally, the recent announcements highlight the company's commitment to growth and a possible bull run for the stock.